Question

If Samantha can pay off her loan in 36 months at a 10% interest rate rather than in 48 months at a 12% interest rate, how much money will she save in interest charges on her $6,000 loan?
$960
$1,240
$1,175
$1,080
None of these choices are correct.

Answer 1

Answer is B

Answer 2

Franklin Credit Union pays 5% interest, compounded daily, from the date of deposit to the date of withdrawal. The daily interest rate (to the nearest millionths place) for January 14 (90 days in the quarter) on this account is:
0.000147.
0.000139.
0.000156.
0.000128.
None of these choices are correct.

Answer 3

@farmboy813

Answer 4

B

Answer 5

Glacier State Bank pays 6% interest, compounded daily. After finding the daily interest rate (to the nearest millionths place) for September 5 (92 days in quarter), calculate the interest earned on that date for an account with a balance of $4,000 (to the nearest whole cent).
56 cents
48 cents
75 cents
65 cents
None of these choices are correct.

Answer 6

@farmboy813